DCIT, CHENNAI vs. THE OFFICIAL LIQUIDATOR M/S. MASCON GLOBAL LTD. (IN LIQUIDATION), CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

transfer pricing issue, whereas, in the reassessment proceedings, the Assessing Officer has taken various issues for which the assessment under section 143(1) of the Act was not reopened. 2.1 Per contra, the ld. DR has submitted that the reassessment under section 147

ACIT, CHENNAI vs. M/S. MASCON GLOBAL LTD., CHENNAI

Accordingly, the ground raised by the Revenue is dismissed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddy

transfer pricing issue, whereas, in the reassessment proceedings, the Assessing Officer has taken various issues for which the assessment under section 143(1) of the Act was not reopened. 2.1 Per contra, the ld. DR has submitted that the reassessment under section 147

HYUNDAI MOTOR INDIA LIMITED,KANCHEEPURAM vs. DCIT LTU-II, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

section 147 of the Act and hence, the reopening is bad in law and (ii) the second issue raised is that the assessee filed complete details before AO during original assessment proceedings and hence, there is change of opinion in reopening of assessment on the same set of facts because no new material is brought on record for reopening

K.R.JAYARAM,CHENNAI vs. ACIT, COIMBATORE

In the result, the appeal of the assessee is partly allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

transfer of land as capital gains by invoking section 50C provisions. Aggrieved by the order of ld. Assessing Officer, the assessee carried the appeal before the Ld.CIT(A). On appeal, the Ld.CIT(A) confirmed the order of the AO and dismissed the appeal of the assessee. Against the order of Ld.CIT(A), now the assessee is in appeal before

DCIT, CHENNAI vs. M/S EQITASHOLFINGS PRIVATE LIMITED, CHENNAI

In the result, the appeals filed by the Revenue in ITA

Bench: Shri Mahavir Singhand Shri Manjunatha.G

section 147 of the Act. In response to above notice issued u/s.148 of the Act, the assessee requested for reasons for reopening of assessment, which was communicated to the assessee by AO vide letter dated 12.07.2017. The AO in his reassessment order passed u/s.143(3) r.w.s. 147 of the Act dated 05.12.2017 reproduced the reasons but the assessee filed copy

DCIT,CC-2(1), CHENNAI vs. M/S.EQUITAS HOLDINGS PVT. LTD, CHENNAI

In the result, the appeals filed by the Revenue in ITA

Bench: Shri Mahavir Singhand Shri Manjunatha.G

section 147 of the Act. In response to above notice issued u/s.148 of the Act, the assessee requested for reasons for reopening of assessment, which was communicated to the assessee by AO vide letter dated 12.07.2017. The AO in his reassessment order passed u/s.143(3) r.w.s. 147 of the Act dated 05.12.2017 reproduced the reasons but the assessee filed copy

M/S. ASHOK LEYLAND LTD.,CHENNAI vs. DCIT, NCC-8(1), LTU-II,, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

transfer its un-taxed income in India to entities abroad and then bring it back to India thereby avoiding taxation. We make it clear that we are not going into this aspect of the matter because those complaints have not seen light of the day either before the High Court or M/s. Ashok Leyland Ltd. :: 13 :: this Court and, therefore

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer, was filed before the Assessing Officer during the course of assessment proceedings. (ii) Though the statement of Shri.Sumit Sharma was taken as the basis for reopening the assessment, another director of the company had confirmed the transaction vide letter dated 28.01.2016 (Refer page 7 of Paper book) ITA Nos.2280-83 /2018 :- 9 -: (iii) It may be noted that Shri.Suraj

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer, was filed before the Assessing Officer during the course of assessment proceedings. (ii) Though the statement of Shri.Sumit Sharma was taken as the basis for reopening the assessment, another director of the company had confirmed the transaction vide letter dated 28.01.2016 (Refer page 7 of Paper book) ITA Nos.2280-83 /2018 :- 9 -: (iii) It may be noted that Shri.Suraj

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer, was filed before the Assessing Officer during the course of assessment proceedings. (ii) Though the statement of Shri.Sumit Sharma was taken as the basis for reopening the assessment, another director of the company had confirmed the transaction vide letter dated 28.01.2016 (Refer page 7 of Paper book) ITA Nos.2280-83 /2018 :- 9 -: (iii) It may be noted that Shri.Suraj

ACIT CENTRAL CIRCLE, SALEM vs. THRIVENI EARTHMOVERS PVT. LTD., SALEM

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

transfer, was filed before the Assessing Officer during the course of assessment proceedings. (ii) Though the statement of Shri.Sumit Sharma was taken as the basis for reopening the assessment, another director of the company had confirmed the transaction vide letter dated 28.01.2016 (Refer page 7 of Paper book) ITA Nos.2280-83 /2018 :- 9 -: (iii) It may be noted that Shri.Suraj

P PRAVEEN KUMAR,CHENNAI vs. DCIT, NON CORPORATE CIRCLE-5(1), , CHENNAI

In the result, the appeal of assessee is allowed

Bench: Shri Chandra Poojari

transfer and the subsequent stock journal entry coupled with the 3 explanation with respect to the reduction in market value would negate such presumption of inflation. 7. The CIT (Appeals) failed to appreciate that the addition of `6,25,3561- was wrong, erroneous, unjustified, incorrect and not sustainable in law. 8. The CIT (Appeals) failed to appreciate that there

NETHERLANDS OPERATING COMPANY B.V.,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, INT. TAXATION 2(1), CHENNAI, CHENNAI

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita No.1198/Chny/2023 िनधा"रणवष"/Assessment Year: 2010-11 V. Netherlands Operating Company B.V. The Acit, Rmz Millenia (Phase-1), International Taxation -2(1), Business Park, 4Th Floor, Campus 1C, Chennai. 11, Dr. M.G.R. Road, Kandanchavadi, Perungudi, Chennai-600 096. [Pan: Aabcl 0573 D] (अपीलाथ"/Appellant) (""यथ"/Respondent)

147. The case at hand is covered by the main provision and not the proviso." 4.7 Thus, following the above principles laid down by The Honourable Supreme Court, it is concluded that the Assessing Officer acted like a reasonable person for arriving at a "reason" of escaped income on the basis of survey proceedings conducted, during the course of which

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

transferred to professional fee account on completion of service. The assessee further submitted that the advance is a very small amount as compared to the aggregate professional fees. Apart from the above, alternatively the Id. AR submitted that the advance received during the assessment year under consideration was only 2,79,161/- which may be added to the income

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

transferred to professional fee account on completion of service. The assessee further submitted that the advance is a very small amount as compared to the aggregate professional fees. Apart from the above, alternatively the Id. AR submitted that the advance received during the assessment year under consideration was only 2,79,161/- which may be added to the income

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

transferred to professional fee account on completion of service. The assessee further submitted that the advance is a very small amount as compared to the aggregate professional fees. Apart from the above, alternatively the Id. AR submitted that the advance received during the assessment year under consideration was only 2,79,161/- which may be added to the income

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

section 14A to the extent of dividend income earned by the assessee. In the result, the assessee’s appeal is partly allowed in this regard. 31. On the issue of the transfer pricing adjustment in respect of the investment in OFCD , the ld DR submitted that during the year, SVL had invested in the OFCDs issued by its subsidiaries aggregating

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

section 14A to the extent of dividend income earned by the assessee. In the result, the assessee’s appeal is partly allowed in this regard. 31. On the issue of the transfer pricing adjustment in respect of the investment in OFCD , the ld DR submitted that during the year, SVL had invested in the OFCDs issued by its subsidiaries aggregating